McAllen, TX

January 18, 2017 Comments Off on McAllen Industrial Vacancy at a New Low Views: 265 Texas - Other, Texas News

McAllen Industrial Vacancy at a New Low

McAllen, TX’s industrial sector set records in Q4 2016, according to metrics released by CBRE. The annual net absorption for the year was the highest in the current cycle (at 1.4 million square feet), while the year-end vacancy rate of 6% was a new low in the current economic cycle. Construction during the quarter was 211,250 square feet, with average asking rent at $4.16 per square foot.

The McAllen-Edinburg-Mission’s position as host of the Hidalgo-Pharr point of entry helped increase demand. Export trade from the U.S. to Mexico reached $8.6 billion (year-to-date) as of October 2016, 5.3% below the same period a year ago. However, imports from Mexico to the U.S. totaled $15.9 billion, a 3.6% increase above the same period the year before.

The demand for cold-storage industrial remains hot. This has led to new development of cold-storage buildings, particularly in Pharr, TX, which is the largest gateway for produce out of Mexico.

Connect with CBRE’s Robert Kramp

Download the Report

For comments, questions or concerns, please contact Amy Sorter

For advertising information, please contact Joni Margotta

Share on FacebookTweet about this on TwitterShare on LinkedInEmail this to someone

Tags: , , ,

Comments are closed.